Tenable (NASDAQ:TENB) Price Target Raised to $32.00

Tenable (NASDAQ:TENB) had its price target upped by Morgan Stanley from $28.00 to $32.00 in a report issued on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company reissued an “overweight” rating and set a $45.00 target price (up previously from $40.00) on shares of Tenable in a research report on Thursday. Jefferies Financial Group reissued a “hold” rating and set a $38.00 target price (up previously from $37.00) on shares of Tenable in a research report on Thursday. Needham & Company LLC raised their target price on shares of Tenable from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday. Scotiabank cut their target price on shares of Tenable from $45.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 30th. Finally, Robert W. Baird lowered their price target on shares of Tenable from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tenable presently has an average rating of “Moderate Buy” and an average price target of $41.06.

Tenable Trading Down 2.4%

TENB stock opened at $30.57 on Thursday. The company has a market capitalization of $3.73 billion, a PE ratio of -82.62 and a beta of 0.76. Tenable has a 12 month low of $28.75 and a 12 month high of $45.44. The firm’s 50-day moving average is $32.91 and its 200 day moving average is $35.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.04 and a quick ratio of 1.04.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 30th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $247.30 million for the quarter, compared to the consensus estimate of $242.15 million. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.22%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, research analysts anticipate that Tenable will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark C. Thurmond sold 2,483 shares of Tenable stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total value of $80,573.35. Following the completion of the sale, the chief executive officer directly owned 72,727 shares in the company, valued at $2,359,991.15. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen A. Vintz sold 3,386 shares of Tenable stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.45, for a total transaction of $109,875.70. Following the completion of the sale, the chief executive officer owned 328,008 shares of the company’s stock, valued at $10,643,859.60. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,815 shares of company stock worth $669,797 in the last three months. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Tenable

Large investors have recently made changes to their positions in the business. Prudential Financial Inc. raised its stake in shares of Tenable by 698.9% during the 4th quarter. Prudential Financial Inc. now owns 70,555 shares of the company’s stock valued at $2,878,000 after buying an additional 61,723 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Tenable by 67.5% during the 4th quarter. JPMorgan Chase & Co. now owns 550,278 shares of the company’s stock valued at $21,670,000 after purchasing an additional 221,728 shares in the last quarter. Norges Bank purchased a new position in shares of Tenable during the 4th quarter valued at approximately $54,950,000. Finally, California Public Employees Retirement System increased its holdings in shares of Tenable by 122.0% during the 4th quarter. California Public Employees Retirement System now owns 440,287 shares of the company’s stock valued at $17,339,000 after purchasing an additional 241,926 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Tenable Company Profile

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization’s IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.